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RE: My Humble Plea To Steemit's Megawhales
While I'm definitely not an economist or investment advisor (I'm a full time waiter) I don't quite worry too much about dilution of the Steem market at this early point in the platform/currency, and I say that as someone who is buying now, albeit in meager amount ($25 added to my coinbase two days ago, and will make my Steem purchase when that transaction clears in a few days).
I’m pretty convinced that this platform will explode to millions of users within a couple of years, and that that is where the “demand” side will kick into overdrive, almost regardless of how carelessly or recklessly (in many ppl’s opinions, that is, not mine) value is “dumped” during this Beta period.
More in a sec
I won’t however argue or agree with the idea that “a lower price might interest new users and investors” (as you point out and more or less rebut already), because I think many (millions of?) new users will continue to come simply for the free blog that is ad-free - (my early thoughts on that here https://steemit.com/steemit/@ibringawareness/would-you-be-on-steemit-without-the-financial-incentive-for-the-record ) as it’s a cheap (free now) webhosting solution in many ways - one of the primary reasons I am here in fact - and thus "the demand" will potentially always be there.
What I don’t think people are putting into this equation yet however, is how the Steem reward for sign ups keeps dropping ($3 now, but $5 when I signed up only ten days ago). My point is that eventually it may “only” be free to sign up once everybody’s heard about it, and then possibly even charging (gasp!) for certain functionality, like hosting images, hosting audio for independent podcasters (like me). Imagine if they let the “value” of Steem drop to almost nothing, but at some planned point decided to charge only $1 for a membership (“to avoid abuse” / “prove you’re not a fake account”), then just give you the equivalent in Steem (or $1 monthly. Or $12 annually… or $99 annually if you’re a business owner who wants a second account just for your business or organization once this takes off in the real world) …..
My point is, there are so many ways that they can eventually start making money, effectively ensuring that the value of Steem has no possibility of crashing to $0, because it will always be pegged to a low, equivalent at minimum to the “price” joining, of such a quality platform, that also charges for more premium service. That ongoing and all but "guaranteed" revenue stream will also always be of interest to potential investors.
Okay I'm done, thanks!
I've had thoughts similar to a few of the things you mentioned, but I don't have quite such a rosy outlook at this point. I want to believe, though!
Thank you, and especially thank you for the upvotes. Based partly on not being "flamed" or quickly proven wrong in my unexpert opinion expressed, I am now typing my comments up as an article, combining them with another comment I've made elsewhere. If it does crazy well, I will probably owe you a percentage for getting me the path, haha.
No need. Glad the gesture was appreciated.
And ummm, do you realize you just said "I want to believe" to someone who lives in Roswell New Mexico? And I alluded to my podcast above - since I don't think it would be spam at this point in the conversation, check out http://www.Area51.fm - two weeks ago my guest (former Pentagon / Dod cyber security expert) came on to talk about the Blockchain and Steemit, and I haven't stopped Steeming since).
Weird!
Okay it is done, and I linked to your article (this page) as well of course from inside the text. And I apreciate being called "rosy" - I used that! Thanks again , Guy https://steemit.com/money/@ibringawareness/steem-price-plunging-and-why-i-m-happy-about-it-because-of-steemit-s-secret-future-business-model-you-we-don-t-see-or-know-about